6 business tips from millennial entrepreneurs

Having a job is great and earning money from it is really fulfilling. But what if, in the middle of the 9-to-5 grind, you realize this is not for you?! Suddenly, setting up a business sounds like The One.

Then you check your bank account and the reality of it bites you hard. It sounds hard, sure, but it’s not impossible. Millennial couple and owners of Sulok Café, Rod Escobar and Andy Wong, has a few tips how to start a business while we’re young.

1. Gain experience

If you’re interested in putting up your own business, you should gain more experience first. Corporate jobs will give you experience, courage and all the knowledge that you need in managing your future business.

“Marami ka talagang matututunan sa corporate world. Like ngayon, lahat ng natutunan namin sa past jobs namin, nagagamit siya sa pagma-manage ng business. You really need to learn things from other people muna before venturing on your own. Be a good employee to become a good employer,” Andy said.

2. Know what you want

Putting up and maintaining your own business is a life-changing decision. That’s why you need to assess first if you really want to pursue it. Like what Rod said, “Huwag kang papasok agad sa business na hindi mo pa alam yung gusto mo. Kailangan desidido ka na talaga. If you want to pursue it, you need to have a heart for it.”

Having your own business doesn’t always mean you’re your own boss and you can do whatever you want. Apart from being your own boss, you are also your own slave. You need a lot of discipline—in managing your time and your resources wisely.

“Hindi mo naman kailangan ipunin lahat. But you have to set control measures and parameters on how much you can spend for leisure, travel, and needs. Hindi pwedeng gastos ka lang nang gastos.”

5. Have the courage

If you don’t have the courage and strength to build your own business, it won’t happen. Keep motivated and have the right mindset to do it.

“Nothing can really prepare us from business even our education or past jobs if you don’t have the courage. Aside sa mga sinabi namin kanina, lakas ng loob talaga yung isa sa pinaka-importante sa lahat. Kasi if you have that, everything will follow na.”

6. Don’t be afraid to commit mistakes

Putting up your own business is really challenging and you can do a lot of mistakes along the way. These mistakes should not stop you from continuing your business, you must learn from it.

“Make all the mistakes you can make within your 20s, basta siguraduhin mong may matututunan ka dun sa mga mistakes na yun. Better to commit those mistakes when you’re young, just make sure na you’ll learn from it,” Rod said.